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1 - 10 van 56 voor indirect utility
Microsoft Word - discussion57
... unemployed.13 substituting demand for land and the composite good in the utility function and equating expected indirect utility in each region, we obtain the equilibrium condition ( )( ) bwubrwr --+ -- order to arrive ... conditions, which result in lower wages as well.33 hence, we regard it as indirect evidence of the wage curve relationship between regional unemployment and wages. the existence of ...
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discounting investments mitigation and adaptation pdf
... optimal physical investment and consumption strategy for the first planning problem and j the corresponding indirect utility (or value) function. the portfolio allocation of the first planning problem can now be written ... . now we turn to the second planning problem with borrowing and lending at r and indirect utility at j . comparing the first and the second planning problem shows that if j j ...
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Microsoft Word - discussion52
... time t. hence, an important simplification write it in terms of some indirect utility function v rather than the direct utility function u, so that the decision to retire at age t ... and wise, 1990a; 1990b) rather than maximising expected lifetime utility (or indirect utility) an agent chooses the retirement date for which the expected utility is at its maximum, i.e. immediate retirement is optimal ...
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... . common utility is assumed to be a product of environmental quality and a ces component in land and the composite commodity. this yields the indirect utility function 1 11 ... figure 1 urban housing market population (households) commonutility housing demand (common utility) housing supply (common utility) reservation utility figure 2 urban labour market population (households) wage(euros) labour ...
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gamma simulation model ageing pensions and public finances pdf
... utility changes is not possible, because utility is not comparable between individuals due to its ordinal character. the indirect utility function can be used to implement equivalent variations. the indirect utility ...
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intergenerational risk sharing pdf
... indirect utility function for young agents. substitution of the solution for consumption, equation (3.11) and equation (3.12), and leisure, equation (3.13), in equation (2.1), gives the following indirect utility ... numbers welfare losses. let w0( ) denote ex ante indirect utility in case there is no collective pension scheme and w1( ) ex ante indirect utility in case there is a collective scheme. ...
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Microsoft Word - discussion130.doc
... measuring welfare we follow the standard procedure of first deriving the expression for indirect utility. we show that indirect utility might be either cast in terms of equilibrium prices for the use of ... this chain of causality requires a reformulation of social welfare in terms of indirect utility.9 first take indirect utility as a function of income and route prices as an alternative for eq. ( ...
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Microsoft Word - discussion_demooij.doc
... sloped segments of the kinked budget curve by linking the choice of segment to the indirect utility function. this method is frequently used in labour supply studies and 90s, such as hausman ... find, there exist no formal tests to directly detect publication bias. however, one can explore indirect evidence to see whether publication patterns are consistent with the presence of publication bias. a ...
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... common utility is assumed to be a product of environmental quality and a ces component in land and the composite commodity. this yields the indirect utility function ( ) ( )( ) ( ) ( )( ) ( ) ... 1 urban housing market population (households) commonutility housing demand (common utility) housing supply (common utility) reservation utility figure 2 urban labour market population (households) wage(euros) ...
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access regulation and adoption voip pdf
... of the access price not only generates direct but also indirect cost effects, since it triggers changes in market shares which ... derives utility r y - p0, where r is the basic utility from telephony and u0 r is interpreted as a technology-specific utility ... take into account the potentially asymmetric utility level u1 as well as the expected reduction in utility from not consuming the ideal product ...
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